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Thursday, January 29, 2009

MANILA, Philippines—Panasonic Corp., the world’s largest maker of plasma television, will shut down its factory in the Philippines and another plant in Malaysia to “cope with a rapid change in the global electronics market,” a company spokesperson said on Wednesday.

Some 60 Filipino employees at Panasonic’s battery factory in Taytay, Rizal, and around 500 Malaysian workers at its electronic parts plant in Malacca will lose their jobs, according to company spokesperson Akira Kadota.